‘More Orange Dots’: Michael Saylor’s Strategy Buys 10,624 Bitcoin Amid Sell-Off Concerns

Core Viewpoint - Michael Saylor's Strategy, formerly MicroStrategy, continues to accumulate Bitcoin despite market concerns, indicating a strong commitment to its cryptocurrency strategy amid a rebound in Bitcoin prices. Group 1: Bitcoin Purchases - The company acquired 10,624 BTC for $962.7 million at an average price of $90,615 per Bitcoin, achieving a year-to-date BTC yield of 24.7% [2] - Strategy now holds a total of 660,624 BTC, which were acquired for $49.35 billion at an average price of $74,696 per Bitcoin [2] Group 2: Funding and Financial Strategy - The latest Bitcoin purchase was financed through net proceeds from the sales of MSTR and STRD stock, raising $928.1 million and $34.9 million, respectively [3] - The company has established a $1.44 billion USD reserve, which is expected to cover approximately 21 months of dividend and interest payments, alleviating immediate selling pressure [6] Group 3: Market Performance - The MSTR stock has seen a rebound, trading around $182, up nearly 2% from last week's close of $178, reflecting positive market sentiment alongside Bitcoin's price recovery [7] - Bitcoin has recently surpassed the psychological $90,000 level, indicating a favorable market environment for cryptocurrency investments [6] Group 4: Leadership and Market Perception - Anthony Scaramucci praised Michael Saylor for his strategic Bitcoin accumulation, highlighting the establishment of a USD backstop and the decision to sell equity to fund further BTC purchases [8]